Charlty rngl•trallon nwnb•r 1181634 (England and W•le•) BEDERECH KOVOD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 BEDERECH KOVOD LEGAL AND ADMINISTRATIVE INFORMATION Mr M Scher Mr N Gruner Mr S Gro86bergor Mr E Leech Ch•rlty numb•r 1151634 Prfnclpal addro•• 16 Welbeck Grové Salford M7 4DH Audltor Glazers 843 Finchlgy Road London NW118NA BEDERECH KOVOD CONTENTS Page Trustee5' report Slalement of trustees, responsibilities Independent audiloes report Statement of financial aclivilie5 Balance sheet Slalement of cash flows Notes to the financial statements 10-15 BEDERECH KOVOD TRUSTEES, REPORT FOR THE YEAR ENDED 30 NOVEMBER 2024 The trustees present thelr annual report and financlal 81atements for the year ended 30 November 2024. The financial stalernen15 have been prepared in accordance with the accounting policles sel out in note 1 to the financi31 slatemen15 and comply with Ihe charity's goveming document. the Charities Act 2011 and "Accounling and Reporting by Charitle5'. Statement of Recommended Practice applicable lo charities preparing their accounls in accordance with thp Flnancial Reporting Standard applicable in the UK and Republlc of Ireland {FRS 102)" (effective 1 January 20191. Objectlves and 8¢tlvltles The tharity makes grants to POOT familie¥ and individuals for basic need5 such as food and medical requirements and also mak85 grants for the enhancement of the practice of the Jewish RelIg￿on. The trustees have paid due regard lo guidance issued by the Charity Commission in deciding what aGlivities Ihe charity should undertake. Achlevomonts and pèrfomance The charity's Sncoming resources in the year amounted to £4,607,962 {2023 £4,278,507). Durlng the year the Gharlty made grants and dlslrlbutions totalling £4,598,69012023 £4,234,159). Flnanclal revlgw A8 al 30 November 2023 the charity had unrestrlcted r85erves of £14,95612023 £5,684). It Is Ihe policy of the charfty th81 unr851ricted funds which have nol been designaled for a speclfic use should be maintalned al minimum of £5.000. The Iruslees conslder that rèserves at this18vel w511 ensure that. while ensurfng that funds are utlllsed for charitable purposes, in the event of a signlficanl drop in fundlng they wlll be able to Continue the charity's Current activities while ¢on8ideration is glven to ways in whlch additional fvnds may be raised. Th1$ level of res8rv85 has been maintained throughout the year. Structure* goyemance and managoment The charity 15 governed by a trust deed adopted on 3 April 2013 as amended on 18 September 2019, The trustees who served durlng the year and up to Ihe date of slgnalure of the finand81 slatemants were.. Mr M Scher Mi N Gruner Mr S Gr055berger Mr E Leach Recruitment and appolnlmenl of new trustees is in accordance with the tTUSt deed and wllh the objectives of the charity, and suitable candidate5 would be sensllive to the needs and demands of the charity. The Iru8tees' report was approved by the Board of Trustees. M Scher Tru$toe Oate: . 2610812025 BEDERECH KOVOD STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 30 NOVEMBER 2024 The trustees are responsible for preparing the Trustee5' Report and the financial $18lemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charilles In England and Wales Tequires the trustees to prepar8 financial statements for each rinancial year which giv8 a true and fair vlew of the state of affalrs of the charlty and of the Incoming resources and application of restsurces of the charlty for that year. In preparlng these financlal slalements. the trust88s arè required to.. select 5uilable accounting pollcles and then appty them consistently., observe the methods and principles In the Chaiities SORP.. make judgements and estimates that are reasonable and pnJdenl- state whether applicable accounting standards have been followed, subject to any material departures dlsdosed and explained in the financial statements., 8nd prepare the financial statements OT) the going concern basis unless it Is inappropriate lo presume that the charity will continue In operation. The trustees are r8SPDnsible for keeping sufficient accounting records that disclose with r8850nable accuracy at any time the financial pos11ion of the charity and enable them to ensure that the financial statements ￿Mpty with the Charfties Act 2011, the Charity {Accounts and Report$l Regulations 2008 and the provlslons of the Irusl deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularhles. BEDERECH KOVOD INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF BEDERECH KOVOD Oplnlon We have audlled the financial slatemenls of Bedere¢h Kovod (the 'charity'l for the yeaT ended 30 November 2024 which comprise the slalemenl of financial aclivltles. the balance sheet, the stslement of cash flows and note5 to the financial 3tstemenl$, including significant accounting policies. The financial reporting framework that has been applied in their prepgration is applicable law and United Kingdom Accounting Standard5, including Financial Reporting Standard 102 The Fin8nC181 Reporting Standard applicable in the UK and R8public of Ireland (United Kingdom Generally Accepted Accounting Practice)- In our opinion. the financial statements.. give a true and fair view of the slate of the charlty'5 affairs as at 30 November 2024 and of its incoming resources and application of resources. for the year then ended.. have been proper￿ PrePa￿d in accordance with Unlted Kingdom Gen8r8lly Accepted Accountlng Practlce- and have been prepared in a¢cordance wilh the Charities A¢t 2011. Basi8 for oplnlon We conducted our avdlt In accordance with Intematlonal Standards on Auditlng (UK) IISAS IUKII and applicable law. Our responsibilities under those standards are fvrther described in Ihe Auditorts responsibilities for the 8udit of the financial stat8menls 5ecllon of our report. Vve are independent of Ihe ¢harlty in accordance wllh the ethical requirements that are Televant lo our audit of th8 financial statements in lh& UK, Including the FRC'S Ethical Standard. and we havo fu￿illed our other eth1￿1 responsibilities In accordance with these requirements. We belleve Ihat the audit evidence we have obtsined 15 sufficient and appropriate to provide a basis for our oplnion, Concluslons r•latlng to golng concern In auditing the financial $talemenl8, we have conduded that the trustees, use of the golng conc8rn basls of accounllng In the preparation of the flnanclal statement$18 approprlate. Based on the work we have performed, we have not Identified any materfal uncertainties ￿latIng to event$ or condillons that, individsjally or collectively, may cast significant doubt on the charity's ability to continue as a going concem for a perlod of at lea81 ￿e1ve month8 from when the financlal statements ar8 aulhorlsed for issue. Our responsibilities and th8 r8sponsibililies of the trustees with respect to going concem are described In the relevant seclions of this r8POrt. other Informatlon The other information comprises the InfO￿allOn included in the annual report other than the financial statements and our auditorf5 report Ihereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other inform8tlDll and we do not express any forni of assurance conclusion Ihereon. Our responsibility is to raad the other Inforrnallon and, in doing so, conslder whether the other informalior$ 13 malorialty inconsistent with the financial statements or our knowledge obtained in the course of the audll, or otherwise appears to be materially misslaled. If we identify such materlal inconslstencies or apparent material misststemenls, we are required to detemiine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other infomation, we are requlred to report that fact. We have nothing to report in this regard. Matters on whlch we are requlred to report by exceptlon We have nothlng lo report In respect of the followlng matters In relallon to whlch the Charltles (Accounts and Report5) Regulations 2008 requires us to report to you if. in our opinion.. the informatiori given in the financial statements is inconsistent In any material respect with Ihe trustees. report- or Sufficient accounting records have not been kept., or the financial statements are not in agreement with the a¢¢ountlng Tecords; or we have not received all the informatlon and 8xplanollon$ we require for our 8udlt. BEDERECH KOVOD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BEDERECH KOVOD Responslbllltles of trust•o$ As explained more fulty in the statement of trustees. responsibilities, the trustees are responsible for the Preparation of the financlal statements and for being Satisfied that they give a true and falr view. and for such internal control as the Iru5tees detemilne is necessary to enable the preparation of financial statements that are free from material misstatement, whether due lo fraud or error. In preparing the financial 5talements. the trustees are responsible for assessing the chanty's ability to continue as a going concem, disclosing, as applicable. mattets related to going concern and using the going concern basis of accounting unless the trustee5 elther intend to cease operations. or have no realistic altemative bul to do 50. Audltotrs responslbllltles for the audlt of tho flnanclal gtatements We have been appointed as auditor under section 144 of the Charitie5 Acl 2011 and report in accordance with the Act and relevant regulatlons made or having effect thereunder. Our objectlves are to obtain reasonable assurance about whether the financial statements as a whole are free trom material mlsstatement. whether due to fraud or efror, and to Issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that all audit conducted in accordance with ISAS {UKI will always det8cI a m8terial misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, indlvidualty or in the aggre9ate. they could reasonably be expected to influence the economic decisions of users taken on the basls of these financial statements. The extent to whlch our procodure3 are capable of detgcting irregularltles, Including fraud, Is delailed below. BEDERECH KOVOD INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF BEDERECH KOVOD In Idenllfylng and assessing risks of materlal misstatement In respect of irregularilles, Including fraud and non- compliance wilh laws and regulations, we considered the following- 1) Enquiries of management concernin9 Ihe charity's policies and procedures relating lo.. identifying, evaluating and complying with laws and regulations and whether they were aware of any in5tance$ of non-compllance detecting and responding to the rlsks of fraud and whether they have knowledge of any actual, susp8Cted or alleged fraud-, and the intemal controls established lo mitigate risks relaled to fraud or non-compliance wllh laws and regulations- 2) Di5CU53ions among the engagement leam regarding how and when fraud might oexur in the financial statements and any polenlial indicators of fraud. In common with all audits under ISAS (UK), we are also required lo perfonn speclfi¢ procedures lo re$pond to the rlsk of managemènt overridè. We also obtslned an understsnding of Ihe legal and regulalory framework Ih81 the charlly op8ral&s In, focu$lng on provisions of Ihose laws and regulatlon$ that had a dlre¢t effect on the delermlnallon of material amounts and disclosures in the financial statements. The key laws and regulations we consldered in this context included the Charities Act along with the Charities SORP. In addition. we ¢onsSdered provisions of other laws and regulatlons that do not have 8 direct effect on th8 financlal statemenls but compliance wlth whlch may bè fvndamenlal to the charity'8 abillty lo operate or avold a material penalty. As a resutt of performing the above, we dld not identify any key audlt matters related lo the polenlial rl8k of fraud or nonvcompliance with laws and regulatlons. In addition to the above, our pro¢edures to respond to risks identffied Induded the following.. Reviewing the financi81 statement dlsclosures and testlng to supportlng documentallon to assess compliance wlth provisions of relevant laws and regulatlons described as havlng a direct effect on the flnancSal statements., Enquirlng of management concernlng actual and polentlal Iltigatlon and claims,, Performlng an81ytical procedures to Identlfy any unusu81 or unexpected relationships that may Indicate rlsks of material misslatefflenl due lo fraud., Reading minutes of meetings of those charged with govemance and reviewing CL)rrespondence wilh relevant tax authorities,. and In addre55ing the risk of fraud through management override of controls, testing the appropriateness of journal enlrle$ and other adluslmen15,' assesslng whether the judgements made In maklng accounting esilmate5 are ii)dicalwe of a polenllal bias., and evaludtlng the business rallonale of any slgnific8nt Iransa¢lion5 that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulation5 and potential fraud risks to all engagement team members. and remain&d alert to any indications of fraud or non-compliance with laws and regulations Ihroughout the audlt. We nole that our audit is not prlmarily designed lo detect non